Phosphate Fertilizer Daily Review, July 7: Sulfur Fluctuates Weakly, Phosphate Fertilizer Market Runs Steadily

Monoammonium Phosphate Price Index

According to FDD data, on July 7, the domestic monoammonium phosphate 55% powder index stood at 4,435.00, flat from the previous working day; the 55% granular index stood at 4,450.00, flat from the previous working day; and the 58% powder index stood at 4,710.00, flat from the previous working day.

Monoammonium Phosphate Market Analysis and Forecast

Today, the domestic monoammonium phosphate market remained stable. On the enterprise side, most plants were still executing previous orders, with no significant changes in market prices. Raw material prices remained high, traders maintained a firm mindset, and actual transactions were negotiated on a case-by-case basis.

On the market side, current sentiment is characterized by sellers remaining firm but constrained, buyers staying cautious and watchful, and traders holding goods while waiting for further price increases.

On the demand side, downstream compound fertilizer plants are currently operating at low loads. Some enterprises have already completed part of their raw material procurement, while willingness to purchase at high prices remains weak. Actual procurement is mainly limited to small-volume need-based purchases, with sentiment relatively cautious.

On the raw material side, sulfur prices continued to consolidate weakly today, but port inventories remained low, so price support still exists. Sulfuric acid prices fluctuated at high levels, and phosphate rock prices remained firm at high levels. Cost-side pressure continued to increase, and enterprises maintained a strong willingness to hold prices firm.

Overall, supported by costs and pending orders, the monoammonium phosphate market is expected to remain stable at high levels in the short term. Going forward, attention should be paid to raw material price trends, the pace of downstream compound fertilizer autumn preparation, and the impact of sulfur market movements on cost transmission following the signing of the U.S.-Iran agreement.

Diammonium Phosphate Price Index

According to FDD data, on July 7, the domestic mainstream diammonium phosphate 64% granular index stood at 4,571.67, flat from the previous working day; the 60% brown index stood at 4,350.00, flat from the previous working day; and the 57% content index stood at 4,432.50, flat from the previous working day.

Diammonium Phosphate Market Analysis and Forecast

Today, the domestic diammonium phosphate market continued to operate steadily at high levels. On the enterprise side, some producers mainly focused on shipping previous pending orders, with no significant changes in market prices. Market sentiment toward holding prices firm remained strong, and actual transactions continued to be negotiated.

On the market side, the wait-and-see atmosphere persisted.

On the demand side, performance remained relatively muted. Demand is still in the traditional fertilizer-use gap period, and domestic autumn sowing preparation has not yet started on a concentrated basis. Downstream compound fertilizer plants are mostly operating at low rates, with procurement limited to small-volume daily rigid-demand replenishment. Grassroots distributors remain strongly wait-and-see, and overall trading activity is stagnant and relatively light.

On the raw material side, sulfur prices consolidated weakly at high levels today, but port inventories remained low, so price support still exists. Sulfuric acid prices fluctuated at high levels, and phosphate rock prices remained firm at high levels. High raw material prices continued to increase cost pressure, providing strong support to the market.

Overall, the diammonium phosphate market is expected to continue high-level consolidation in the short term. Going forward, attention should be paid to raw material price changes, downstream demand follow-up, and later export policy adjustments.

Sulfur Market Prices

According to FDD data, on July 7, the domestic Zhenjiang Port granular sulfur price stood at 8,800.00, flat from the previous working day; Dafeng Port granular sulfur stood at 8,780.00, flat from the previous working day; Zhenjiang Port powder/block sulfur stood at 8,750.00, flat from the previous working day; Dafeng Port powder/block sulfur stood at 8,730.00, flat from the previous working day; East China solid sulfur stood at 9,250.00, flat from the previous working day; and East China liquid sulfur stood at 8,930.00, down 0.33% from the previous working day.

Sulfur Market Analysis and Forecast

Today, regional divergence in the domestic sulfur market was evident. The overall market operated weakly, spot trading was light, and participants maintained a strong wait-and-see attitude. Affected by the negative feedback from previous high prices and increased supply, the market lacked upward momentum. In addition, industry meetings diverted market attention, further suppressing spot trading.

Imported sulfur at ports remained under pressure. Quotations were stable, but transactions were sluggish. Traders showed a strong willingness to sell, while downstream buyers resisted high prices and purchased cautiously.

Domestic sulfur trends diverged across regions. Shandong liquid sulfur rebounded from the bottom. After previous auctions cooled and cargoes were offered at concessions, downstream rigid demand was effectively activated, and transactions improved steadily. The rise in Northwest solid sulfur stalled; after a slight increase yesterday, trading turned weaker today, and the market mainly focused on stable-price shipments, with afternoon auction trends warranting close attention. Northeast liquid sulfur continued its downward trend, with prices remaining under pressure.

Overall, the current market is seeing intense supply-demand competition. Supply is loose, downstream buyers purchase as needed, and there is no concentrated restocking support, making it difficult for transactions to expand in volume.

Market outlook: In the short term, sulfur is expected to maintain high-level fluctuations with the price center edging slightly lower, while regional divergence continues. Imported port cargoes face relatively heavy downward pressure. Domestic sulfur prices may rise and fall in different regions. The sustainability of Shandong liquid sulfur’s rebound is insufficient, and the market is likely to return to weakness later. Northwest solid sulfur shows relatively strong resistance to decline and is expected to mainly move sideways.

In the medium to long term, industry fundamentals remain under pressure, and weak terminal demand will suppress the market. However, cost-side support limits the risk of a deep decline. Going forward, market movements will mainly depend on refinery auction performance and changes in downstream chemical rigid-demand operating rates.

Phosphate Fertilizer Market Updates

July 7: In the Anhui MAP market, 55% powder was quoted at around RMB 4,530-4,550/tonne delivered, with quotations stable.

July 7: In the Northeast MAP market, 55% powder was quoted at around RMB 4,250-4,250/tonne delivered, with quotations stable.

July 7: In the Henan MAP market, 55% powder was quoted at around RMB 4,530-4,550/tonne delivered, with quotations stable.

July 7: In the Hubei MAP market, mainstream ex-factory prices for 55% powder were around RMB 4,200-4,450/tonne, with quotations stable.

July 7: In the Jiangsu MAP market, 55% powder was quoted at around RMB 4,520-4,500/tonne delivered, with quotations stable.

July 7: In the Shandong MAP market, delivered quotations for 55% powder were around RMB 4,530-4,500/tonne, with quotations stable.

July 7: In the Sichuan MAP market, delivered quotations for 55% powder were around RMB 4,300-4,350/tonne, with quotations stable.

July 7: In the Yunnan MAP market, ex-factory prices for 55% powder were around RMB 4,250-4,300/tonne, with quotations stable.

July 7: In Shaanxi, 60% DAP self-pickup ex-factory quotations were RMB 4,300-4,350/tonne, with quotations stable.

July 7: In Northeast China, 64% DAP self-pickup ex-factory quotations were RMB 4,550-4,600/tonne, with quotations stable.

July 7: In Hebei, 57% DAP self-pickup quotations were RMB 4,420-4,500/tonne, with quotations stable.

July 7: In Hubei, 64% DAP self-pickup ex-factory quotations were RMB 4,800-4,850/tonne, with quotations stable.

July 7: In Shandong, 64% DAP self-pickup ex-warehouse quotations were RMB 4,900-4,980/tonne, with quotations stable; 57% self-pickup station quotations were RMB 4,450-4,500/tonne, with quotations stable.